RPX (Red Pulse) Vanished from Binance/Wallet? Here’s Why!

Many people holding the RPX coin in Binance reported us that all their holdings of the coin has been vanished from their wallet balance. I had some RPX coins in my portfolio too, and I was surprised they have totally been vanished from my wallet, without any notification from Binance. I was a little concerned at first, but when I dug a little deeper into the situation, here’s what I’ve found.

Red Pulse, also known as RPX, is a three-year-old cryptocurrency startup based in Hong Kong. Red Pulse is a blockchain intelligence gathering and analytics company focused on the Chinese markets, focused more towards Finance, Healthcare and the Technology industries. RPX started the culture of Initial Coin Offerings with their first ever ICO. It launched as a NEP-5 token on the NEO platform, and now they are finally switching to their own native platform called PHOENIX. So, all the RPX tokens will now be swapped to PHX tokens on the native PHOENIX platform of Red Pulse.

Here’s what they’ve stated in their official migration announcedment:

As announced during the unveiling of PHOENIX, we will be launching an upgraded infrastructure that is backed by a new token, PHX. We will be conducting a token swap in August, with RPX holders being given 1 PHX for every 1 RPX.

Token Swap Process

The token swap process will be seamless, and does not require any extra effort on your end. As mentioned previously, you will receive 1 PHX for every 1 RPX. RPX will be deprecated following the token swap. The exact process will vary depending on whether you’re holding RPX on an exchange, or whether you’re holding RPX on your own wallet.

RPX Held on Exchanges

All of our partner exchanges will be supporting the token swap, so if you are currently holding RPX on an exchange, your RPX will be automatically changed to PHX. All exchanges will suspend RPX trading, withdrawals, and deposits on August 11 (CST, UTC +8), and will be distributing PHX between August 15–18. Each individual exchange will be making their own announcement as to the exact timing of their RPX token swap.

RPX Held on Wallet

If you are holding RPX outside of an exchange, on your own wallet and address that you control, we will be airdropping PHX into your address. A snapshot will be taken of RPX balances at a specified NEO blockchain blockheight, sometime between August 12–13. On August 14, will then airdrop 1 PHX for every 1 RPX you held at the time of the snapshot.

All exchange partners will be supporting the RPX to PHX token swap. For a list of exchanges, please see below:

Binance
Huobi
Kucoin
Bitbns
TDAX
HitBTC
Switcheo
Coinrail

Binance has also released a support document stating they will support the token swap, and released the following key points for the holders:

Deposits and withdrawals of RPX will be suspended starting from 2018/08/11 4:00 AM (UTC), at which point we will begin the token swap.Important: Please ensure that you leave sufficient time for your RPX deposits to be fully processed prior to this time.

Trading will be halted in all RPX trading pairs at 2018/08/14 4:00 AM (UTC). We will take an immediate snapshot of all RPX balances at the exact same time (2018/08/14 4:00 AM UTC), and begin the distribution of PHX to all eligible users at a ratio of 1 RPX = 1 PHX.

Trading will open for the new PHX/BTC, PHX/ETH and PHX/BNB trading pairs at 2018/08/17 4:00 AM (UTC). Deposits and withdrawals for PHX will also be opened at this time.Please note: Once trading opens in the new PHX trading pairs, all prior RPX trading pairs will be delisted from the exchange.

After reading all the statements above, you should have your new PHX tokens in your wallet/exchange by 17th or 18th of August, 2018.